More good news keeps coming for consumers in early 2014. On the heels of new mortgage rules that took effect January 10, the following week four banks making payday loans pulled their products from the market. Announcing a halt...
According to the study, a property becomes a “zombie” when a bank files for foreclosure but does not actually take ownership for more than three years. Many homeowners are either left unaware that they still hold title to the...
An inventory of foreclosures and a continued uptick in rentals have prompted Round Lake Beach officials to seek help in assessing the village's real estate landscape. Village leaders want to get a better understanding of the big-picture impact of...
More good news keeps coming for consumers in early 2014. On the heels of new mortgage rules that took effect January 10, the following week four banks making payday loans pulled their products from the market. Announcing a halt...
From 2008 to 2010, 8.7% of foreclosures filed in Cook County, Illinois, were zombie foreclosures, accruing to more than 5,800 zombie properties in the city of Chicago. But this is just the beginning. According to a recent report from...
The report defines a zombie property as a property for which a foreclosure case has been filed but not resolved for more than three years. Because neither the borrower nor the servicer has clear control of the property, neither...
CHICAGO—A new report from Woodstock Institute estimates that there are more than 11,700 zombie properties in Cook County, including more than 5,800 in the City of Chicago. A property becomes a zombie when a mortgage servicer files for foreclosure...
As many as 11,700 residential properties in Cook County, including 5,800 in Chicago, have been in foreclosure for at least three years without resolution, new data show, a situation that could further deteriorate already scarred communities. Many of those...
Regions Bank, Fifth Third Bank, US Bank, Guaranty Bank, and Wells Fargo announced this week that they would stop offering deposit advance loans in the near future. These decisions mark a major victory for consumers, as well as Woodstock...
Federal Reserve Governor Janet Yellen takes the helm as Chairman of the Federal Reserve Board of Governors after Ben Bernanke led us through the tumultuous financial crisis and fledgling recovery. (Thank you, Mr. Chairman.) A panel of economists at...